BANGKOK — Pol. Lt. Gen. Trirong Phiewpan, commissioner of the Cyber Crime Investigation Bureau (CCIB), has commented on public calls for Thailand to revise its laws to align with Singapore’s approach of holding banks and mobile network operators accountable when customers are defrauded online.
He explained that Thailand is implementing similar measures. While the framework is comparable to Singapore’s, Thailand wants to define the penalties and responsibilities more explicitly.
Pol. Lt. Gen. Trirong explained that Thailand already has several laws that can crack down on online fraud similar to Singapore, except for the area where banks and telecom operators are held jointly responsible. Thailand’s Emergency Ordinance on Measures to Prevent and Combat Technological Crimes specifies the responsibilities of banks and telecom operators, but does not provide for penalties.
The Central Bank of Thailand and the National Broadcasting and Telecommunications Commission (NBTC) are authorized to issue additional regulations, while the Ministry of Digital Economy and Society is working on an amendment to the Emergency Decree to include stricter provisions.
He further explained that Thailand currently has 19 criteria to identify suspicious activity in financial accounts and phone usage. These include accounts with frequent small transactions within a short period of time, followed by a large withdrawal, and accounts with high-frequency transfers in a short period of time.
During a committee meeting last week, the financial institutions proposed adding another criterion, while the police suggested another related to suspicious behavior involving cryptocurrencies. The financial institutions are now considering these proposals.
“Financial institutions and banks will use their power under Section 6 of the Emergency Decree on Measures to Prevent and Combat Technological Crimes to suspend transactions for seven days to conduct further investigations. This is similar to the measures taken in Singapore,” said Pol. Lt. Gen.Trirong Phiewpan.
He cited cases where courts ordered financial institutions to compensate victims of call center and online scams. Courts assess whether banks followed the prescribed 19 measures. Non-compliance can lead to liability for damages. While current laws impose civil liabilities, introducing criminal penalties akin to Singapore’s system would require new regulations from the Bank of Thailand or NBTC.
The Ministry of Digital Economy and Society and related authorities are also working on amendments to the Emergency Decree, which include the following:
- Shared responsibility: banks and telecom operators to jointly pay for financial losses when non-compliance leads to fraud.
- Reimbursement guidelines
- Stricter penalties
The changes are aimed at closing loopholes exploited by criminals through banking and telecommunications systems. Both telecommunications providers and banks support these measures.
From January 1, 2025, a new measure will require SMS messages containing registration links to include a sender identifier. If the identity of the sender cannot be verified, telecommunications providers will block the messages.
The revisions are aligned with recently enacted laws in Singapore and aim to address any vulnerabilities exploited by fraudsters, including fraudulent messages and unauthorized money transfers.
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